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Ratcliffe's company Ineos plans to sail its 'Insight' ship carrying a cargo of 27,500 cubic metres of US ethane to its Grangemouth petrochemicals plant, where it will be used to replace declining supplies from the North Sea.

Ineos almost closed the loss-making plant near Falkirk in 2013 following a dispute with unions but eventually agreed a rescue plan to make it profitable again, with the import of cheap US ethane at its centrepiece.

The company says it has invested £450m in an overhaul of Grangemouth, including the construction...